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Repo Car Auctions Greeley CO

Repo car auctions are a great source of used vehicles at bargain prices, if you know what you're doing. Repossessed vehicles of all types are available at auction sites all over the country. Learn how it works.

Pedersen Auto Plaza Volvo
(303) 534-2613
4455 S Mason Street
Fort Collins, CO
Paintless Dent Repair,Auto Dealers

Marty & Dan's Inc
(970) 351-6300
329 8th Ave
Greeley, CO

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Pedersen Toyota
(970) 688-4358
4455 S. College Avenue
Fort Collins, CO
Car Makes

(877) 550-1262
1280 Highway 50
Delta, CO
Pacific Auction Inc
(303) 287-0691
5450 Dahlia St
Commerce City, CO
Victory Sales & Leasing
1114 8TH Ave
Greeley, CO

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Deals On Wheels West
(970) 352-9378
2599 53RD Ave
Greeley, CO

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Cross Country Motors
(970) 669-3280
3600 Garfield Ave
Loveland, CO

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Loveland Auto Auction Inc
(970) 669-4994
2500 E 13th St
Loveland, CO
Denver Auto Auction
(303) 343-3443
17500 E 32nd Ave
Aurora, CO
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Repo Car Auctions

What is a repossessed (repo) car?

When a car owner fails to make on-time loan or lease payments, the bank or finance company will repossess the vehicle — take it back. Typically, the buyer will be given a chance to catch up on payments or be made a payoff offer to recover the vehicle. If the buyer does not or can not get the vehicle back, the bank or lending institution takes it over and will sell it to recover some or all of the loan balance.

Repossessed cars are not the same as seized cars, impound cars, or unclaimed cars typically sold by police or government agencies. Repossessed cars belong to banks, credit unions, and finance companies.

Some smaller banks or credit unions may display repo cars in their own parking lots, with "for sale" signs in the window. These cars can be easily spotted when driving by the bank.

Most banks and finance companies hand over repo cars to a professional auction company. When the auction company sells the car, the bank gets the money, less a commission. Auctions can be public, private, or dealer-only auctions. Repossessed car auctions are sometimes mistakenly called "car forcloseure auctions."

When a bank or loan company sells repossessed cars, it wants to recover enough money to pay off the existing loan balance, plus any expenses for towing and storage and the fees of the professional repo company who picked up the vehicle.

In tough economic times, repossessions become mo...

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